December 18, 2008

Nicole Buffett, adopted daughter of Warren Buffett's son Peter, famously made headlines when she dished about the family in Jamie Johnson's indie documentary "The One Percent" about rich kids, and subsequently on Oprah.

"Asked in the film how he'd react to her interview, Nicole responds, 'I definitely fear judgment. Money is the spoke in my grandfather's wheel of life'."

Grandfather Warren Buffett, said to be furious, cut her off, saying "I have not emotionally or legally adopted you as a grandchild, nor have the rest of my family adopted you as a niece or a cousin."

Nicole Buffett's grandfather is the legendary investor Warren Buffett, whose $58 billion fortune made him the richest man on the planet, a mantle he seized from Bill Gates last fall.

Buffett's office confirmed to Marie Claire that he paid for Nicole's schooling but had "no comment" on the rest of the story.

After that, her grandfather mailed her a letter saying he no longer considered her kin. "For him to discard me like that was devastating," Nicole told the magazine. "It permanently divided our family."

Nicole Buffet lives in Berkeley, California on $40,000 per year approximate income from selling paintings. She was "cut off" by Warren Buffet, a notoriously private man, because she ran her mouth about him in public.